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PLANNING BY FREEHOLD
Author(s) -
Foldvary Fred
Publication year - 2005
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2005.00582.x
Subject(s) - freehold , leasehold estate , economic rent , incentive , business , government (linguistics) , politics , property rights , carpentaria , reservation , finance , economics , market economy , law , political science , microeconomics , linguistics , philosophy , oceanography , geology
Government planning of urban development is inefficient as it is controlled by political processes rather than conducted on behalf of the people it is intended to benefit. Certain forms of property rights such as divisions of freehold and leasehold can, and in practice do, lead to much more effective use of resources and provision of shared services as the owners of the freehold have an incentive to maximise site values and rents.